LSL Property Services AGM yesterday

April 29, 2016

LSL Property Services plc, a leading provider of residential property services incorporating both estate agency and surveying businesses, held its Annual General Meeting (AGM) yesterday in London.

Market Backdrop as  included in their AGM statement

Market volumes, as measured by Bank of England Total Mortgage and Total House Purchase Approvals, have increased significantly in the first two months of 2016 compared to the same period in 2015. This reflected accelerating Buy-to-Let market activity ahead of the 1 April changes in Stamp Duty, compared to the same period in 2015.

The number of Total Mortgage Approvals for the two months to 29 February were up 25.1% relative to the corresponding period last year, whilst the number of House Purchase Approvals were up 21.0% on the same comparative basis. Although market volumes from the Bank of England are not yet available for March 2016, market estimates indicate very strong volumes in March as completions accelerated still further ahead of the Stamp Duty changes.

We expect that the acceleration of market activity in quarter one caused by the changes in Stamp Duty will soften in quarter two and we have already seen this trend in our April trading.

To viewthe AGM statement in full visit LSL Property Services website click here

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Zoopla Rental Market Report: Rents rising at lowest level for 3.5 years

Upcoming reforms in the rental market will limit new investment and the number of homes for rent Rents rising at lowest level for 3.5 years as Zoopla warns upcoming rental reforms will continue to limit rental supply   Average UK rents for new lets are three per cent higher over the last year, down from…
Read More →
Estate Agent Talk

Commonhold White Paper – Thoughts from the Industry

The sale of new leasehold flats in England and Wales is to be banned under Labour’s plan to end the  ‘feudal’ system. Labour wants to switch to Scotland’s commonhold system There are around 5 million leaseholders in England and Wales. Under commonhold, each flat owner would own the freehold of their home, but also have…
Read More →
Breaking News

Greenpeace Ruling Exposes UK Government Policy

In January 2025, Greenpeace brought a collective action against the Dutch state for failing to comply with a 2018 European Court of Justice ruling on nutrient neutrality. An appeal is expected: however, as the UK Government has adopted the same ‘tax builders for pollution others cause’ approach to reducing nutrient pollution, it may find itself…
Read More →
Love or Hate Rightmove
Breaking News

Rightmove commentary on mortgage market + weekly tracker

Commenting on the mortgage market, Rightmove’s expert Matt Smith said: “The market has settled after the unexpectedly high inflation figure. Average mortgage rates on many products have trickled downwards, and we’ve even seen the return of some eye-grabbing sub-4% mortgage rates for those with the biggest deposits. It shows that mortgage lenders are still keen to…
Read More →
Breaking News

Government plans to ban new leasehold flats

With the Government’s plans to ban new leasehold flats, an expert says the system must be ready to cope. With the news that Government is to outline plans to ban new leasehold flats and adopt commonhold, with draft Leasehold and Commonhold Reform Bill to be published later this year, Scott Goldstein, Partner, Payne Hicks Beach,…
Read More →
bank of england interest rate
Breaking News

Bank of England Money and Credit Report – January 2025

Overview These monthly statistics on the amount of, and interest rates on, borrowing and deposits by households and businesses are used by the Bank’s policy committees to understand economic trends and developments in the UK banking system. Key points: Net borrowing of mortgage debt by individuals rose by £0.9 billion, to £4.2 billion in January.…
Read More →